Can I claim deductions for a living allowance given to my elderly mom?

Posted 28 October 2013

I pay my elderly mom R2 000 per month for living expenses. She does not qualify for a South African pension as although my dad was classed as a South African citizen, my mom's citizenship remains British. She received a small amount of money when my dad died which she invested and now earns R1 000 per month so her total income for living is now R3000. My question is, I would like to know if there is some sort of deduction I can make for this amount?

Meals fringe benefit for tax purposes?

Posted 21 October 2013

I have to travel to clients a lot for work, the company has agreed to pay for my lunch when I am on the road during business hours, will this be a fringe benefit for me?

I earn a salary and pay tax as per usual, if I consult and receive other income, what is the tax tha

Posted 14 October 2013

I receive a salary per month and pay my usual taxes. I am assisting a friend on a monthly basis with his business in my spare capacity. He pays me per month R4 700.00 consultation fees and would like to be invoiced for that. I am not registered as a business, what are the tax implications for me.

Signing bonus vs relocation allowance tax implications?

Posted 12 October 2013

I just got a job offer in CPT and currently in DBN and the company is giving me a signing bonus R100K. what are the tax implications of signing bonus compare to getting a relocation allowance instead of the bonus.

What goes under capital allowances on the ITR12 - Income Tax Return

Posted 8 October 2013

What goes under capital allowances?

Can I claim travel expenses for unpaid charity work?

Posted 8 October 2013

I work for a software company three days a week and on the other two days I provide unpaid help to various charities. Am I able to deduct the travelling expenses to and from the charity projects in my tax return?

What documentation is required to show income and expenditures from rental income?

Posted 8 October 2013

I recieve additional income from rental. I have an agreement with my tenants that they pay a percentage of the electricity and rates bill, the ADSL bill and the domestic staff. If I were to be audited, what documentation would I need to provide in order to prove these expenditures seeing as they are not the total amount invoiced on the ADSL or Electricity Bills?

What is an IRP3?

Posted 7 October 2013

What is an IRP3

How do I work out my taxable income from my salary slip?

Posted 1 October 2013

I started earning extra wages outside of my salary in February 2013 and so I have registered for provisional tax. On my IRP6 I need to fill in my gross turnover(which I understand to be my gross salary other income including my rental earnings, wages earned and interest on investments) and then my estimated taxable income (which I understand to be my gross turnover minus my costs, retirement annuity contributions and my pension contributions). How do I work out the taxable portion of my salary ...

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Commission earners and staying up to date on what you can claim and what portions

Posted 26 September 2013

Hey TimI am back and this year I have subscribed to your service so I'm looking forward to easy filing!I do have a couple of questions, keeping it high level, as I earn the majority of my income on commission and spend quite a lot of my own income in making that possible. I'll just dive right in:A.) Can I claim depreciation on my 1.) Car and 2.) Scooter - how do I calculate that and where do I put that on my return if I can?B.) Can I claim insurance expenses on 1.) My Home Office and 2...

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What to include under 3601 and 3615 codes

Posted 26 September 2013

Do subsistence allowances, bonuses and right of use of motor vehicle fringe benefits get INCLUDED under code 3615 and 3601? Or must they be EXCLUDED from 3615 and 3601 and included under 3714, 3605 and 3802 respectively?

When do I start my logbook if got travel allowance halfway through year?

Posted 25 September 2013

Hi Tim, I get a travel allowance but however I started receiving it in June, but always had used the car since the month of April! So when do I start the date of my logbook for efiling?

Car Allowance - Available deductions and Documents required

Posted 21 September 2013

My salary was structured in such a way that I have a car allowance of approx R5,5k and my contract states that due to this allowance I will be required to use my personal vehicle for company purposes. The company however includes the full allowance as 100% taxable income - and that my annual tax return will determine the actual taxable portion.

My question is - how will it be determined and what documents do I need to keep in order to have any available deductions? Please note that...

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Does "Gross salary" for PAYE include subsistence allowances, car allowances etc?

Posted 21 September 2013

What components make up "Gross salary"? Would things like subsistence allowances (local) and car allowances be included?

Tax on money from PayPal?

Posted 20 September 2013

Hi Tim
I'm a Freelance Artist, by profession, I mainly get paid through PayPal as most of my client/commissioners are overseas. I bring in on an average month between R8000-R9000. FNB charges a small fee and VAT get's charged on the money I get.
I wondering about how I pay the tax on this money and how much I am expected to pay.
Thanks

How to claim travel expenses without a logbook

Posted 18 September 2013

Is there another way of claiming for travel expenses if you don't have a log book?

I have to claim travel, but didn't keep a logbook. Can I make one now or too late?

Posted 17 September 2013

Hi TaxTim! I have to claim travel, but didn't keep a logbook. Can I make one now or too late?

Employer tax free bursaries for student employee

Posted 13 September 2013

Hi,I am currently busy with my masters degree in management. I am personally paying for all my studies.Can I arrange with my employer to set a certain portion of my salary aside as a bursary which is directly paid to the University thus lowering tax for my employer and myself?Also, is it possible for my employer to claim money from the the Skills Development Levy (SDL)?Basically, I want to know what can I arrange with my employer to reduce our tax burden. My employer will be open to any options ...

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Do I need a logbook for aTravel allowance?

Posted 11 September 2013

If receiving a fixed travel allowance is it necessary to maintain a logbook?

Can a company register for VAT at inception or must it commence trade first?

Posted 10 September 2013

I would like to know at what point should a business register for VAT. Can it register immediately or must the company first make R50 000 and produce bank statement to prove this?

Private practice queries

Posted 10 September 2013

I've started my own private practice
I was employed before that and was a registered "normal" tax payer and did my e-filing chop chop easy. I'd like to continue doing my own e-filing:

Do I have to register now as a different tax payer now that I'm working for myself?
And must I complete the form where it asks for my own income and will it automatically update then and ask if I had other expenses?

And what all can I keep as "business" expenses? (I rent an office and pay a receptionist as well)...

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How do I apply to be over taxed on pension received?

Posted 10 September 2013

I receive a monthly pension from my late husband. I have submitted my SARS and I have to pay in a large amount back to SARS. I have spoken to SARS as well as GEPF and the advice I received was to apply to Department Finance to over tax me to avoid this situation again. I don't know how, where and to whom I must speak to adjust my tax. Thanks

Travel allowance back up docs

Posted 10 September 2013

Hi TaxTimWhat kind of back up documentation must one hand in when you have a 3701 and 3702 code on your IRP5?Regards

How long will it take to be refunded after resubmitting my tax return?

Posted 9 September 2013

Hi Tim. I submitted my tax returns and did not claim on my travel allowance, now SARS sends me an SMS stating I owe R8750. If I were to resubmit and claim on my travel allowance, how long will it take for SARS to refund, and what's gonna happen on the amount they say I owe? Regards Themba

Personal Service Provider

Posted 8 September 2013

Hi Tim

1. I am starting a company and it will be a Personal service Provider. I know tax has to be withheld at 28% by my client. What I don't understand is whether the 28% is a flat rate or does the tax payable get recalculated when I submit my ITR12?

e.g.
Say I earn 20000 a month X 28 % tax = 5600 . Tax payed for the year = R 67200.
However if I was taxed as a regular employee my tax would have been = R 37,359.75

Will SARS pay me back the difference?
...

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